Offshore staff
OSLO, Norway – Exploration expenditure offshore Colombia could rise in 2023 following a steady decline over the past few years, according to Rystad Energy.
According to the consultant, the country’s offshore operators will collectively spend $145 million on exploration this year, down from more than $600 million in 2015.
But the figure should creep up to exceed $200 million by 2023.
Despite the recent slowdown, there has been movement in the sector this year, with Shell farming-in to Ecopetrol’s Fuerte Sur, COL-5, and Purple Angel deepwater blocks in the Colombian sector of the Caribbean Sea.
In addition, the company plans appraisal drilling early in 2022.
Occidental subsidiary Anadarko Colombia has picked up four new offshore exploration and production contracts in the La Guajira, Magdalena and Atlantico provinces, and Chevron subsidiary Noble Energy plans to drill in the COL-3 block off La Guarija.
According to Rystad, these projects could revive an area where activity previously stalled due to high development costs.
12/22/2021
